NEW DELHI: Ministry of Commerce and Industry, on Monday revealed the details of gold imports in India over the past year and October’s imports which amounted to 99.62 tons valued at $3.5 billion. The last time that gold imports were high was in December 2015, which was at 121.84 tons, for a price of $3.81 billion.
The country’s trade deficit has decreased since last year as well as the value of imported gold which was $1.68 billion for 48.73 tons of gold in October 2015. A report by Thompson Reuters said that as on November 14, the gross official import of gold was nearly $1.5 billion. Of this, as much as $900 million worth of the metal was imported after the demonetisation of high-value legal tenders, a report by Business Standard said.